LONDON--(BUSINESS WIRE)--According to a recent Technavio report, the bone cancer drugs market is expected to grow by USD 2.14 billion during 2019-2023. Growth in the bone cancer drugs market can be attributed to many segments, one of which is the indication segment comprising of osteosarcoma, Ewing’s sarcoma, chondrosarcoma, and others. Industry participants are focusing on analyzing maximum growth opportunities in the market by considering their prospects in the fast-growing, indication segment.
What are the Latest Trends?
Researcher are developing targeted therapies such as SRC family kinase inhibitors, PD-L1, and PD-1 for the treatment of bone cancer indications such as osteosarcoma. These drugs are in the late stages of clinical trials for the treatment of bone cancer. Researchers are also developing therapies that suppress the multiplication of cancer cells in the bones by targeting the mutations occurring in the PD-1 gene. The availability and approval of such therapies will drive market growth. As per Technavio, the bone cancer drugs market is forecast to grow at a CAGR of close to 12% by 2023.
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Pfizer and Merck KGaA are conducting Phase II clinical trials on targeted therapies. such as BAVENCIO for the treatment of osteosarcoma. Merck is also conducting Phase II clinical trials on KEYTRUDA for various bone cancers.
Bristol-Myers Squibb have developed SPRYCEL targeted therapy, which is in Phase II of clinical trials for the treatment of Ewing’s sarcoma and chondosarcomas. All these drugs are expected to receive approval owing to the special drug designations by the US Food and Drug Administration (FDA) and the European Medicines Agency (EMA).
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Developments in the field of Bone Cancer Drugs
Vendors in the market are focusing on entering into strategic collaboration agreements with pharmaceutical companies to develop and commercialize drugs for bone cancer conditions. Some of these vendors are also focusing on the manufacture and commercialization of animal health products such as drugs and vaccines for the control of diseases in all major livestock.
For instance, Amgen is one of the several vendors operating in the bone cancer drugs space, and it is focusing on the clinical development and commercialization of MP0310 by entering into a strategic collaboration agreement with Molecular Partners.
For Further Market Information
More insights like this on the U.S. and global markets can be found in a series of reports published by Technavio entitled the Bone Cement Market in US Analysis, Size, Trends | Global | 2019-2023 & Bone Distractors Market Analysis, Size, Trends | Global | 2019-2023.
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